The enduring utility of indicators vs. pure price action in crypto
Been thinking a lot lately about how many in the crypto space seem to dismiss traditional technical indicators out of hand, favoring what they call 'pure price action'. While I respect the focus on candles and structure, I find it hard to ignore the broader context that something like an RSI divergence or a well-placed moving average can provide. It's not about relying on them for exact entries, but more for confirming a thesis or highlighting potential shifts.
Take $DOGE for example, currently bouncing around $0.07023. You can read all the order flow you want, but understanding its historical momentum characteristics, perhaps via a simple MACD, often adds a layer of depth that pure price action alone might miss. I'm curious to hear from those who've entirely abandoned indicators – what makes you so confident in price action alone, especially in such a volatile asset class? Push back on this; I'm ready to learn.
It's always amusing to see the 'pure price action' crowd act as if charts somehow existed in a vacuum before indicators came along to spoil the party. As if a moving average isn't just a fancy way of looking at historical price action anyway, but with less squinting.